ParachainParachainIt is a variety of separate。
Layer 1 blockchainThe parachain is connected to and protected by the relay chain,Share and benefit from Polkadots security, scalability, interoperability and governance
. Polkadots cross-chain composability allows any type of data or assets to be sent between parachains, allowing for more new use cases and applications to emerge. Parachains can also connect to external networks like Bitcoin and Ethereum using cross-network bridges.Polkadot is designed as a Layer0 multi-chain network
This article was written by the Web3 Foundation on behalf of Polkadot.
Parachain Features
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Specialization and Flexibility
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scalability
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Interoperability
Interoperability
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governance
Parachains on Polkadot are free to adopt any governance model they see fit, and can use a large number of pre-built modules to implement various on-chain governance systems. The ability to access complex on-chain governance mechanisms can allow teams to significantly reduce the likelihood of an on-chain hard fork that could split their community in two. On-chain governance also provides a way for the parachain community to be accountable and transparent, a prerequisite for many institutions and regulators to see a clear decision-making process before engaging with blockchain technology.
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certificate
DeFi
game
digital wallet
certificate
Authentication
internet of things
smart contract
internet of things
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Projects wishing to run as parachains on Polkadot need to lease a slot on the relay chain by winning the parachain slot auction. Auction bidding uses the networks native tokens, namely Polkadots DOT and Kusamas KSM. Teams participating in the auction have the option to rent a slot on Polkadot for a minimum of six months and a maximum of two years. By participating in the Parachain Slot Auction, teams will lock up the amount of DOT they bid for during the selected lease period, and then unlock it all after the end. During the lease period, DOT remains in the original account, but cannot be used for staking, transfer or other purposes. Participating teams can fund their auctions in a number of ways, including self-funding and crowdloan. In crowdlending, DOT holders can help teams bid for auctions in exchange for some form of reward.
Parachains vs Parathreads
Parathread is a parallel chain connected to Polkadot, but uses the pay-as-you-go model instead of renting a parallel chain slot directly. The Parathread model is especially useful for projects that dont require a constant connection to the network. A blockchain on Polkadot can switch between parachains and parathreads based on its needs and the availability of parachain slots.
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Parachains connected to Polkadot can get as much computing power as they need by renting out a parachain slot, with no additional fees or gas costs. Since all the DOT/KSM used by the team for parachain slot binding can only be unlocked at the end of the lease period, the cost of running the parachain is the opportunity cost of DOT/KSM that cannot be staked during the lease period. Teams that choose to fund through a crowdloan can choose to reward their contributors in any way they see fit, at an additional cost. Other smaller costs include the cost of running collator nodes on a single parachain. For applications with a large number of users and traffic, running as a parachain on Polkadot will be more economical than running a separate blockchain, or building on an existing smart contract platform.
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current progress
The Rococo parachain testnet v1 has been launched at the end of 2020, and the early teams have begun to deploy and test the parachain in early 2021. In February 2021, Plasm and Acala successfully sent the first cross-chain message on Rococo!
Original link:
https://polkadot.network/launch-parachains/
Original link:
https://coinmarketcap.com/alexandria/article/what-are-parachains-2
Translation: PolkaWorld Community
Translation: PolkaWorld CommunityAfter understanding the Polkadot parachain, are you right?Parachain Slot AuctionCurious? This episode of the PolkaWorld video account explains Polkadot’s parachain slot auction rules for everyone. Click the video below to find out~ Tomorrow’s PolkadotFriends” live broadcast
